Ryanair has fallen to the sharpest annual loss in 35 years of history as the coronavirus crisis has devastated international travel, but Europe’s largest low-cost carrier will make a strong recovery in the coming months. I was expecting and doing my best.
The airline reiterated that this year’s passenger numbers will be at the lower end of the 80-120m range, after convinced that the increase in weekly bookings since early April has begun the recovery of air travel.
The Covid-19 limit reduced passenger numbers by 80% to 27.5 million and a net loss of € 815 million for the year to March. This was called the most difficult year in history. This was down from 148.6 million passengers before the pandemic and a net profit of just over € 1 billion a year ago, but slightly above analysts’ expectations.
In the first quarter of April-June, airlines expect to carry only 5 to 6 million passengers as the government closes its borders.
Airlines are looking forward to the Covid-19 vaccine, which will pave the way for a resurgence of international travel in Europe and the United States in the summer, fifteen months later. However, the distribution of viral variants has made the government cautious about reopening borders.
Ryanair does not provide formal earnings guidance for the current fiscal year, but states that it is likely to approach the break-even point.
Bernstein analyst Daniel Roeska said:
Ryanair posts biggest ever annual loss Source link Ryanair posts biggest ever annual loss